President Nana Addo Dankwa Akufo-Addo has described financial assurances from the Paris Club which will pave the way for Ghana to secure an IMF facility as satisfactory.
According to him, clearance will quickly lessen the financial burden of the country when the $3 billion loan facility is finally granted.
He made the remarks while speaking with the leadership of the Catholic Bishop Conference at the Jubilee House on Friday.
“Today, we were informed that the last hurdle toward our agreement with the IMF has been overcome. The Paris Club met today in Paris in a meeting co-chaired by China and France has okayed and approved Ghana’s request for an IMF programme.”
China and the Paris Club have agreed to provide the debt assurances required to aid Ghana’s request for a balance of payment support from the International Monetary Fund (IMF).
Following this, they have admonished all private creditors and other official bilateral creditors to commit to Ghana’s deal without any further delay.
A statement issued by the club said “The creditor committee stresses that the Ghanaian authorities are expected to seek from all private creditors and other official bilateral creditors debt treatments on terms at least as favourable as those being considered by the creditor committee, in line with the comparability of treatment principle.
“Consequently, the creditor committee urges private creditors and other official bilateral creditors to commit without delay to negotiate with Ghana such debt treatments that are crucial to ensure the full effectiveness of the debt treatment for Ghana under the Common Framework,” the statement said.
By: Rainbowradioonline.com/Ghana
